Repeat & Correct: Marsh & McLennan 3Q Adjusted Earnings Beat Views as Revenue Comes in Flat
October 29 2020 - 9:36AM
Dow Jones News
(Marsh & McLennan beat analysts' expectations on adjusted
earnings. "Marsh 3Q Net Profit Misses Views as Revenue Comes In
Flat on Yr" incorrectly stated the company fell short. The
corrected version follows.)
By Dieter Holger
Marsh & McLennan Cos.'s adjusted earnings beat Wall Street's
expectations in the latest quarter, though sales were flat on the
year.
The New York-based advisory firm said Thursday that net profit
was $316 million, or 62 cents a share, in the third quarter. A year
earlier, profit was $303 million, or 59 cents a share.
On an adjusted basis, profit was 82 cents a share. Analysts
polled by FactSet had expected adjusted earnings of 73 cents per
share.
Revenue was $3.97 billion in the quarter, flat on the year.
Analysts had expected $3.83 billion. Marsh said revenue from its
risk-and-insurance business grew 4% to $2.3 billion, while
consulting revenue fell 5% to $1.7 billion.
Write to Dieter Holger at dieter.holger@wsj.com
(END) Dow Jones Newswires
October 29, 2020 09:21 ET (13:21 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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